WASHINGTON, April 26 (Reuters) - The International Monetary Fund is still working with Turkey to conclude a much-awaited loan deal to support the country's battered economy, Managing Director Dominique Strauss-Kahn said on Sunday.
'I believe that we will reach an agreement in the coming weeks,' Strauss-Khan told a news conference during the IMF/World Bank meetings in Washington, repeating similar comments made 10 days ago.
He added that nothing has changed in the last four days of negotiations: 'We had a long discussion we are still working with them.'
Turkish Economy Minister Mehmet Simsek flew to Washington on Thursday to continue negotiations with the fund on a standby agreement to help the country weather the global economic and financial crisis.
It has been almost a year since Turkey's $10 billion loan accord with the IMF expired and the government has been in no hurry to secure a new deal despite calls from investors for a new agreement.
The Turkish economy has slumped in recent months, falling more than 6 percent in the fourth quarter from a year earlier. It was the first contraction since 2001, when the economy shrank nearly 10 percent in the final quarter due to a domestic financial crisis.
(Reporting by Walter Brandimarte; Editing by Neil Stempleman) Keywords: IMF/TURKEY (walter.brandimarte@thomsonreuters.com; Tel: +1 646 489-6319; Reuters Messaging: walter.brandimarte.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'I believe that we will reach an agreement in the coming weeks,' Strauss-Khan told a news conference during the IMF/World Bank meetings in Washington, repeating similar comments made 10 days ago.
He added that nothing has changed in the last four days of negotiations: 'We had a long discussion we are still working with them.'
Turkish Economy Minister Mehmet Simsek flew to Washington on Thursday to continue negotiations with the fund on a standby agreement to help the country weather the global economic and financial crisis.
It has been almost a year since Turkey's $10 billion loan accord with the IMF expired and the government has been in no hurry to secure a new deal despite calls from investors for a new agreement.
The Turkish economy has slumped in recent months, falling more than 6 percent in the fourth quarter from a year earlier. It was the first contraction since 2001, when the economy shrank nearly 10 percent in the final quarter due to a domestic financial crisis.
(Reporting by Walter Brandimarte; Editing by Neil Stempleman) Keywords: IMF/TURKEY (walter.brandimarte@thomsonreuters.com; Tel: +1 646 489-6319; Reuters Messaging: walter.brandimarte.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.